Explain how liabilities of an LLC or an S corporation affect the amount of tax losses from

Question:

Explain how liabilities of an LLC or an S affect the amount of tax losses from the entity that limited liability company members and S shareholders may deduct. Do the tax rules favor LLCs or S corporations?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...